Google Fiber May Have High-Profit Long-Term Payoff, Says Bernstein

By

Tiernan Ray

Feb. 19, 2014 3:07 p.m. ET

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By

Tiernan Ray

Feb. 19, 2014 3:07 p.m. ET

Shares of Google (GOOG) are down $8.27, or 0.7%, at $1,202.61, after the company said in a blog post on its "Google Fiber" blog that it is "exploring new cities" to which to bring the fiber-optic broadband service, which is currently confined to Kansas City, Austin, Texas, and Provo, Utah.

The company says it has "invited cities in nine metro areas around the U.S.—34 cities altogether—to work with us to explore what it would take to bring them Google Fiber." Google says the factors include...